General Information

General Information

To receive financial aid, the student must apply each year by completing a Free Application for Federal Student Aid (FAFSA). In addition to completing a FAFSA each year, students must meet enrollment and Satisfactory Academic Progress (SAP) standards.

The Basics

  1. Students should complete a Free Application for Federal Student Aid (FAFSA). Students who return their FAFSA application later than the priority date (July 1) will continue to be considered for financial aid as long as the funds remain available. ATTENTION All RETURNING STUDENTS: FOR MAXIMUM CONSIDERATION OF ALL MU’S NEED BASED FUNDS (FOUNDERS GRANT, WORK STUDY, ECT.), THE FAFSA MUST BE RECEIVED BY THE PRIORITY DEADLINE OF JULY 1. 

  2. Students who have applied for admission to Methodist should also submit the FAFSA. They should NOT wait for an admissions decision before completing the FAFSA.

  3. Students should respond quickly to all requests for financial aid information.

  4. Students should put their name and ID number on all documents they submit as part of their application for financial aid. They should also keep a copy of the forms they submit and the materials they receive related to financial aid.

  5. Students should ask questions regarding any parts of the financial aid process that they find confusing.

Need-Based Financial Aid

Methodist University offers a broad program of financial aid through the use of Federal, State, and Institutional funds. Since need is an essential factor in the majority of decisions regarding the offer and award of financial aid, it is necessary for an assessment to be made through a standardized and unbiased approach. Methodist University recommends that the student complete the Free Application for Federal Student Aid (FAFSA). This form includes the consideration for all types of financial aid (Federal, State, or Institutional). This is the only form that needs to be completed for prospective Methodist University students. The FAFSA is for U.S. residents only.

Non Need-Based Financial Aid

It is recommended that all students complete the FAFSA form. However, if there is not a financial need or should the student/parent choose not to complete the FAFSA, the student may receive non need-based financial aid such as academic or performance based institutional scholarships.

Federal Aid

Most federally subsidized financial aid resources are classified as "need based" programs. Accordingly, the submission of the FAFSA to the processor using an approved "needs analysis" formula is required.

Federal programs include: Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Work Study Program, Perkins Loan, Federal Direct (student) Loan (subsidized and unsubsidized). The Federal Pell Grant is an entitlement. The SEOG, Work Study and Perkins Loans are awarded at the discretion of the institution. The SEOG and Perkins programs are awarded to students with exceptional financial need. Methodist University has defined exceptional need as Pell Grant eligible.

State Aid

Effective 2012-2013: The State of North Carolina offers a need based grant called the North Carolina Need-Based Scholarship. The scholarship is awarded to any undergraduate degree seeking North Carolina resident demonstrating financial need as determined by the FAFSA and enrolled in at least 9 semester hours. Students will need to complete the FAFSA as soon as possible to become eligible. Funding is subject to legislative action by the North Carolina General Assembly.  Therefore, amounts are subject to change due to budget limitations.

United Methodist Aid

United Methodist General Board of Higher Education and Ministry Programs (GBHEM)

United Methodist Higher Education Foundation (UMHEF)

Outside Scholarships

Applying for outside scholarships can be a critical component of the financial aid award for many students. MU encourages students to apply for as many outside scholarhsip programs as possible. Many of these outside scholarships will require that the student completes the FAFSA and most will have deadlines on or before March 1. Be aware of deadlines and application procedures for every scholarship program. 

The following websites have great information on outside scholarship programs:

Additional Sites for North Carolina Residents

This list is by no means exhaustive. There are numerous scholarship books available at most public libraries. Also, check with your high school guidance office (high school students), your local clubs or organizations, or the Office of Financial Aid for information about local or national scholarships. Pay particular attention to scholarship deadlines.

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